KUALA LUMPUR: The RAM-CTOS Business Confidence Index , which examines forward-looking business sentiment in Malaysia, rose to 53.4 in the first quarter of 2024 , following two consecutive quarters of decline.
Commenting on the improved sentiment, RAM Holdings Bhd group chief executive officer and executive director Chris W K Lee said the latest BCI readings coincided with the recent uptick in macroeconomic and trade data, signalling that the Malaysian economy is poised for higher growth this year. "By prioritising prudent credit assessments and fostering healthy financial relationships, small and medium enterprises can fortify their positions in the market and capitalise on the emerging economic upswing,” he said.
"Growing competition, which is the other top challenge cited by over 60 per cent of firms surveyed, could also limit their ability to fully pass on costs, thereby crimping profitability despite higher sales prospects,” said RAM and CTOS.
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